When you want to borrow money, lenders will look at a number of
things before agreeing to grant credit to you. First, lenders want
to know if you have the financial ability to repay the loan. This
is known as capacity. Second, lenders look for any property you
have to back the loan-again, this is called collateral. And third,
lenders want to know if you will make your payments and how you
have handled other loans in the past. This is called character.
Capacity, collateral, and character represent the three C's
of credit.

The most common types of credit include revolving credit,
installment credit, and service credit.

Revolving credit allows you to borrow up to a
specific dollar amount. The monthly payment may vary as your
balance changes. As you repay the credit, you will be able to
borrow it again. Credit cards are revolving lines of credit.

Installment credit allows you to borrow a
specific amount, for a specific period of time. The monthly payment
usually remains the same. When you have repaid the amount, the loan
is closed. Car and mortgage loans are considered installment
credit.

Service credit allows you to pay for a service
at a later date. If you cannot make the payment in the agreed upon
time, there is a penalty. Utility companies offer this kind of
credit.

Most types of loans can be categorized as secured
or unsecured. Secured loans are backed by property that has value,
also called collateral. An example of a secured loan is a car loan,
as the car is security or collateral for the loan. In other words,
if you don't make the loan payments, the lender can take back or
repossess the car.On the other hand, an unsecured loan does not
have any property backing the loan. If you, for example, apply for
a signature loan at a bank or credit union, this would be
considered an unsecured loan. Many credit cards are unsecured;
however, not all are. Some credit cards are known as secured credit
cards. A secured credit card may be secured by your savings account
or by the merchandise you purchase. If you don't make the payment,
the lender can and will take the item you pledged as security.
Before you sign any credit card agreement, make sure you read and
understand all the fine print.

To understand the role a lender plays in the
credit-granting process, you might think about what you would want
to know if someone wanted to borrow money from you. You certainly
would want to know that they have a job and that they have the
ability to pay you back. You would want to know how long they have
been at their job and that they would make every effort to pay you
back. Knowing whether the potential borrower had repaid their other
loans on time and in full would also be important to you. Lenders
are no different.Lenders are in business to lend you money-that's
their job. They have federal and state government regulations, as
well as company guidelines they have to follow.

Some people think that lenders look for any reason not to
give a loan, but this simply is not true. Lenders want to make
loans, though they want to make them to people who will repay the
loan. When you want to borrow money from a lender, you need to fill
out the application completely and honestly. If you aren't sure how
to answer a question on the application, call the lender and ask
for help.When you meet with a loan officer, be helpful and polite.
Answer their questions to the best of your ability. Again, put
yourself in the position of the lender-if you were going to lend
money to someone, you would expect to be treated politely,
honestly, and with respect.If you are turned down for the loan, ask
why. It doesn't do you any good to get upset with the loan officer.
You may be turned down for any number of reasons. Ask the loan
officer what actions you could take to qualify for the loan in the
future. Just because one lender turns you down for a loan, however,
doesn't mean another lender will do the same. If you are turned
down at one financial institution, make an appointment to see a
loan officer at another bank or credit union.

The way you handle loans made to you will determine
whether you have "good credit." What exactly does it mean to have
good credit? You can achieve good credit by making all of
your payments, as agreed, in full monthly payments. If you
want good credit, you cannot skip payments or pay less than the
full amount due. If you have made financial mistakes in the past,
it's still possible to build good credit by committing to paying
all of your bills on time and in full. Cheers and happy buying!

So I had a little close, you know the kind where the seller is
out of state and buyer closes separately. It wasn't enough that my
seller was gracious enough to pick up the tab on some closing
costs, but later to find that there was actually some closing costs
dollars not quite exhausted from agreed amount. Well certainly no
harm there for my seller! All is good to close, home inspection
complete, agreed no home warranty provided by seller. However, at
close, literally, and mind you it was a separate close..docs
overnighted to seller, one of those last minute HUD's, the selling
agent decides that since there were dollars left from the agreed
closing cost/prepaid amount, it would be okay to add a home
warranty AND have my seller pick up a portion of the inspectors
fee! Needless to say that did not fly with me. We had a new
HUD drawn up, and a credit issued to my seller, and new docs
overnighted. So, I would recommend that if you have one of those
handy little seller to pay blah,blah,blah, it might be a good idea
for your fiduciary responsibility to your seller to get a
quote/GFE from their lender of what said fees are with that
pre-qual letter. Just a thought! Happy selling.

1. Back Porch Grill for sunset any day- food is good and
consistent (best suset spot)

2. Central Park- Great downtown locale easy level access
nice views, easy parking, great food(best restaurant in Hot
Springs) If dining inside after dark you will definitely agree the
tacky flood lights they use for lighting are quite blinding and
offensive, the food, service, and everything else make up for it. I
know my dinner tabs would consist of a bottle wine purchase as
opposed to a glass if the lights were dimmer..and that goes for
most that imbibe I'm sure!

3. Joses Mexican Food- great Margarita patio. It quickly
replaced On the Border for me. Joses is clean as opposed to the
latter..

4. Salsa's- Good patio, crappy service and food, GREAT
Margarita's(possibly the best in town- Don Juans is over, please do
not bother me with "let's go to Don Juans" anymore! We have awesome
authentic Mexican food in HS now!

5. Arlington Lanai any day. Also ask for a pool cup and take a
stroll up to the 7th floor pool deck-trust me! AND do not forget to
ask for a pool cup when ordering your cocktail.

6. One of the neatest patios in all of Hot Springs is currently
being hogged by an awful restaurant downtown called..hmm..I had to
phone a friend!! Rolondo's- sigh Slip in, head straight to the back
of the restaurant to see this awesome area, then humbly bow out and
go seek food,drink & service elsewhere. I have actually tried
to go 6 times, yes six---they just can't pull it together. It is
too hit and miss(mostly miss)

7. Best Sunday patio- Fishermans Wharf- hangover cure or just
great Sunday spot, It is always the same- You are greeted by some
high school tinnybopper likely texting whom adequately greets you,
tells you the patio might be too cold and then carries out your
wishes of getting you to the patio! The service is usually prompt
and the food most always goodish. The drinks are equally goodish.
The staff always has all of their teeth and it is clean &
family friendly.

8. Brady Mountain Resort- Memorial day to Labor day, Lake
Ouachita-truck stop waitresses, an occasional surprise to the norm,
but rare. Country food that varies on quality since Ned Bass sold.
Full bar-little wine-likely the same list I wrote 12 years ago when
I worked for Glazer Distributors! HEY its lake Ouachita..its a holy
spot!

9. Mountain Harbor-Im not even sure they have a patio, but when
camping on an island in the middle of Ouachita, you need to know
they have a breakfast buffet until 10:30!

10. Hamilton House is hands down the all time best spot in the
state, but the new owner is CLUELESS when it comes to any form of
restaurant operation, oh yeah, thats why the kitchen is closed and
they just do room rentals in the bed & no breakfast! When the
Smith's were to old to carry on their legacy of the Hamilton House
it saddened me greatly. She was my restaurant inspiration, she just
never realized it when I worked for her for a month or so years
back.

LEAVING Hot Springs

11. Cafe Klaser.com Heber Springs- One of my favorite places in
the state. Just go. Sit outside & just appreciate being. Get a
chocolate truffle and a whole coconut creme pie to go. Stay a long
time.

12. Pied Piper Eureka Springs- Its special. Fatima the owner is
awesome. Her Dad owns Rogues Manor(i've never bothered) but Fatimas
place is awesome. Last time I was there, she was on vacay and there
was a for sale sign up, OPENED but for sale, I had a great time as
always & her Reuben beats the hell out of Oaklawns any day.

13. Little Rock Cajun's Warf--back when she originally
opened it in probably the 80's her slogan was "You don't need a
yacht if you've got a big deck" She sold it to Landrys and later
reconfiscated her great spot and reclaimed it as Cajuns
Warf..2000-2001ish. She opened with a sassy billboard on Cantrell
Rd. It had several shrimp lined up pointing to the restaurant and
verbage "get your tails in here" I have met her once or twice. I
love her.

14. Rev Room- It is an awesome hipster spot with all sorts of
live music and probably one of the best bartenders in the
state(besides me of course) He is short & beefy, blonde
hair. Matt I think. A good bartender is RARE. The next one
that comes to mind is in Dallas at the Melrose Hotel and her
name is Kathleen.

Oh yeah, this is suppose to be a real estate site. I live it,
breathe it, list it, sell it, and LOVE it. I am extremely
busy. I have 30+ listings. I have done a lot of volume this year
already. I'm thrilled. I hope this wave doesn't crash and if it
does, I hope I land in sand. I practice very ethicly and appreciate
your referrals. I now have a lot of references. Cheers my Real
Estate brothers and sisters.

I started in November preparing for my clients whom wanted to
sell in the Spring, because in our biz Spring is already here! I am
working now to get all of my Lake listings in order because Lake
Hamilton comes back to normal level next month. I have been showing
a lot since just after Christmas. I have also been busy visiting my
coming lists and discussing staging and what needs to happen with
their homes to compete. If anyone is looking for a place for horses
I have just the place, especially since Oaklawn is running! I hope
everyone is feeling the market pick back up like we are. The lull
was kind enough to remove some liabilities and part timers, what
ever that is...:) Side note, TACO MAMMA next to Cafe 1217 on
Malvern Avenue is nearing opening. The same lady,
Chef Dianna, that owns 1217 is doing it. I have a sneak peek
at the menu and its awesome. Also coming soon just up from there on
Malvern will be a little Italian place that will be delicious. BIG
NEWS: For you old timers whom know what I mean when I say Belle
Arti, back when it was good...listen up!! Santo & Rasario
are back. They have one more year no compete with RollyPolly
who bought it from them 9 years ago and ruined it. So heres
the scoop- they have their Hot Springs Locale secured until the no
compete expires, in the meantime Vesuvio Bistro at Best
Western Govenors Inn. 1501 Merrill Drive West Little Rock,
501-225-0500. Ask for Rosario, tell him I sent you. One of the best
meals in Arkansas. Any way happy selling and here are the listings
I have pickd up since the last time I blogged and I have 3 pending
including my remodel I listed 11/7!!!

Hello everyone, and I hope 2009 is off to a good start. Our
market has definitely picked up. The phones are ringing, properties
are being shown, and contracts are moving to pending status. We
have had an unusually large drawdown on Lake Hamilton this year and
surpriseingly even our lake properties are already getting
attention.... So I had to go renew my tags and have always wanted
to get the REALTOR plate, but the hassle of the extra paper work?
Sigh! This year it was super easy because they have them at certain
revenue offices now. I asked how it worked and if I could use my
initials, she said they were pre-printed and it wasn't an option,
but shockingly she let me choose thru the stack of 20 or so..I
think well maybe I'll get lucky and get some random designation,
instead I end up with the most commonly taught phrase in all CE
classes. The entire reason we disclose,disclose,disclose. I was so
happy. It was even better than my initials. The proceeds for this
plate in Arkansas go 100% to Habitat for Humanity. So I did
something good and have quite a humorous reminder to all in our
profession. Happy selling!

Disclaimer: Trulia, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. Trulia, Inc. takes no responsibility for the content in these profiles, that are written by the members of this community.